Ohio’s House of Representatives voted on Wednesday to move forward with a new crypto bill that seeks several protections for industry participants, advancing it up the legislative chain and inching it closer to becoming law. If signed into law by Governor Mike DeWine, the Ohio Blockchain Basics Act would prohibit state and local governments from restricting the use of digital assets as payment or interfering with individuals’ use of hardware wallets or “self-hosted” wallets.
It would also permit digital asset mining by individuals in residential areas, subject to local ordinances, and allow mining businesses to operate in industrial zones if they meet existing requirements. It goes even further by prohibiting local governments from rezoning areas with mining businesses without providing proper notice and an opportunity for comment, and granting those businesses the right to appeal discriminatory zoning actions.
Individuals involved in mining, staking, asset exchange, or blockchain node operations would be excluded from money transmitter, security, and investment laws. Exemptions from capital gains will also apply to every crypto transaction with a value below $200. Following a 68-26 vote, House Bill 116 now moves to the state Senate for consideration.
Sponsored by Rep. Steve Demetriou, HB 116 was first introduced in February and advanced from the House Technology and Innovation Committee before winning full House approval on Tuesday. Wednesday’s legislation comes just a day after the U.S. Senate passed major stablecoin reform under the GENIUS Act in Washington, D.C., as crypto regulation across the nation this year continues to firm.
